A Perfectly Competitive Firm in Long Run Equilibrium Will Earn

question 65

Multiple Choice

A perfectly competitive firm in long run equilibrium will earn

• A)zero economic profit.
• B)a small positive economic profit.
• C)a large positive economic profit.
• D)zero accounting profit.

Recognize and correct errors related to word choice, particularly homophones and common look-alike/sound-alike mistakes.

Understand and apply organizational patterns in paragraph development, including spatial and logical order.

Distinguish between relevant and irrelevant details in writing.

Assess and describe physical appearances and personalities in descriptive writing.

---

Definitions:

Financial Statements

Comprehensive reports on a company's financial performance, position, and cash flows over a specific period.

Shareholders

Individuals or entities that own shares in a corporation, giving them partial ownership of the company and possibly entitlements to dividends and voting rights.

Litigation

The process of taking a legal action or lawsuit; the series of activities involved in pursuing or defending a legal case in court.

Stock Price

The cost of purchasing a share of a company's stock, representing a slice of the company's current market value.